New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-12-17
CLOSING PRICES or CALIFORNIA sTooK&
SAN FRANCISCO. Dec. 10. 1887.
EFFECTS OF THE OREGON LEASE.

FRIDAY. Dec. up VI.
The lease of the Oregon Hallway and Navigation
Companys lines by the Oregon Short Line Union
Pacific ard the certainty that the Union Pacific
Railroad Company will become Joint lessor. prac-
tica lily accomplishes the purposes for which the
Oregon Transcontinental Company was formed-a
uniting OF interests which should defy competition
therefore tIe minimuu value of the Oregon
ifsanscohtnentai stock has become a matter
or easy solution. he COMPANY has bonded
debt of Sl0.0G3,000 due in 1922, but
subject to redemption at 105 and accrued
interest a. the option Of the company; this
bondr debt is secured by deposits in trust
with the New-Iork Farmers Loan and Trust
ComLan, Of the first mortgage bonds Of several
railroads operated by the Northern Pacific Rail-
road, the interest on which and annual appro-
priations TO sinking funds. which will pay the
bonds at their maturity. arc guaranteed by the
Northern Pacific Railroad Company. So that me
ORG n and TranSc ontip'atJfs funded debt IL Sc
cured by guarantees that leave the gene raj assets
free and subject to such improvements as may
occur. Aside from the trust deposits the com.
pahy held on November 80. li1s?7 shares OF
Oregon Railway and NAVIGATION. 1880 shares
Of common and 60 030 shares Of preferred stocks
OF the Northern Pacific. 9,20S shares OF Oregon
steel AGO shares Of common and ., 40 shares
of preferred Milwaukee and Lake Winnebago
Pacific stock 500 shares Of Central and South
American stock. ll4647 shares Of Wisconsin
Central stock, SG0000 first mortgage bonds OF
Wisconsin Central. and - 10000 Pcnokee nrst
II
prc are valued at 81 7.050.O00. In addition
III" company OWLS land valacd at $3.50. 0u0: tho
Portland Hotel cost $50. 0Ool valued az SO"
0G0: Puget Sound Railroad cost $500 val
uod at $1,000 Cedar River extension cost
s335 ono. valued ~ $4,000: cash ard cash
valuation is e. 9GO5.oo0 The company's float
ing debt against this is 81 10000 leaving sl2,.
oc00 for the outstanding capital stock o.
$50 700. 900 or over 30 - pcr cent. The chanceI
for Improvement in the value Of all the com.
panys assets greater than for further deprcs'
sion. and small Improvement Will enhance TIT
value Of its own stock in liquidation.
READINESS 70 Buy STOCKS.
This another duh day M t. Stock TX.
change and the transactions in stocks amounted
only TO 1iT7i4 shares But the dealings were
characterized by limited offerings of stocks at
current quotations. ard by an apparent large de-
r..nd at >mIll conc">stuS. Therefore the rcac-
tons from such advances were made generally
that the lines for the short account had about
reached their maximum. The opening WIS dun
and without feature. Professional bulls were
inactive All the manruarion was {? the part
80 tie bears And vet With dullncs>. III IT. was
an almost steady hardening 4 values This was
Friday WI on tie rules Of the Stock Exc 'ange
give tn. advantage in the money market 20 the
bear operators and YET money only loaned as
hich as 6 per cent by scratch Only 10 Illus
trfto the desperation Of tie bear operators ana
not TO be personal. arr compelled To write that
two or three Of the leading board room traders
who time and again have made money by paying
l-Sal-4 per cent per day 10 carry their long
stocks, today when money reached per cent
bid the 18th Dec made themselves consp!c-
uonS'y liculous Ivy h9~linE n, over The board
room: NO ono but tho bears are bidding up
money! The highest prices Of the dav for stocks
were made after this ludiorous exhibition. and it
is not ut al impro' able that the operators giving
the cXhi iti1n contributed tlcir mite toward the
i'm royoment in their auNi'ty 20 purchase what
toy h'd sid. The mark. closed str. NJ at about
the best rrlccs of The .iiY.
QUIET STRENGTH IN BONDS.
GOvcrnm NJ bonds were quiet and strong with
the bids Tor the II per cents Is per cent blghcr
Annexed are the closing quotations: